Select the necessary words from the list of possibilities to complete the following statements. Statements 1....

 

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Select the necessary words from the list of possibilities to complete the following statements. Statements 1. The of SEC registrants selects the company's audit firm. 2. The auditors must assess the risk of material misstatement of financial statements due to the two types of fraud, fraudulent financial reporting and 3. Audit risk at the account balance level consists of three components: (1) (2) control risk and (3) detection risk. 4. The provides an overview which includes the nature, timing and extent of procedures to be performed in an audit. 5. Audit procedures that are focused on the effectiveness of internal control are called 6. Tests of balances and transactions designed to detect material misstatements are called 7. Performing certain audit procedures at an interim date, rather than at the balance sheet date, results in additional be controlled by the auditors. 8. The authenticity and accuracy of an account receivable may be tested by account to supporting documents. 9. Assertions are that are set forth in the financial statements. 10. The term refers to the process of determining that transactions are reflected in the proper accounting period N that must with the debtor, or by vouching entries in the Select the necessary words from the list of possibilities to complete the following statements. Statements 1. The of SEC registrants selects the company's audit firm. 2. The auditors must assess the risk of material misstatement of financial statements due to the two types of fraud, fraudulent financial reporting and 3. Audit risk at the account balance level consists of three components: (1) (2) control risk and (3) detection risk. 4. The provides an overview which includes the nature, timing and extent of procedures to be performed in an audit. 5. Audit procedures that are focused on the effectiveness of internal control are called 6. Tests of balances and transactions designed to detect material misstatements are called 7. Performing certain audit procedures at an interim date, rather than at the balance sheet date, results in additional be controlled by the auditors. 8. The authenticity and accuracy of an account receivable may be tested by account to supporting documents. 9. Assertions are that are set forth in the financial statements. 10. The term refers to the process of determining that transactions are reflected in the proper accounting period N that must with the debtor, or by vouching entries in the

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